Crypto analyst Jason Pizzino is naming two non-fungible token (NFT) assets that he believes have the potential to earn traders massive gains this bull cycle.
In a new video, Pizzino outlines the criteria he uses to decide which NFT projects are still worth investing in as the NFT craze rages on.
Pizzino recommends traders find projects that have not already gone parabolic. While projects like Chiliz (CHZ), which is sitting just under a $3 billion market cap and has increased in price by 9,000% this year, could still theoretically double in price, Pizzino looks for projects that realistically have room to grow 5, 10 or even 20x this NFT hype cycle.
The trader also notes that one has to look at an asset’s fully diluted market cap as well as its current market cap.
For example, NFT project Ecomi (OMI) currently has a market cap of $1.9 billion, but if one takes a look at what its market cap would be if all its tokens were in circulation, it would be sitting at a $8.5 billion valuation which would place it in the top 15 projects by market cap.
Two projects that Pizzino believes have room to grow and also have relatively small diluted market caps are those that crypto trader Josh Rager recently mentioned as well, Gameswap (GSWAP) and Shroom.Finance (SHROOM).
Shroom is building an NFT protocol for minting and swapping non-fungible tokens (NFTs), and its companion platform Gameswap specializes in allowing gamers to trade in-game assets.
Pizzino notes that both projects, even if they reached half the market cap that popular gaming token Enjin (ENJ) has, they could each grow by 15 and 20x.
“That’s why these look a hell of a lot more appetizing than getting into OMI or whatever the other tokens we just looked at.”
In particular, the trader notes that it is “still early days” for Gameswap (GSWAP) at it is sitting just above a $20 million dollar market cap.
l
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/ SergeyBitos
Credit: Source link
